WHEN: Today, Thursday, October 30th at 10:15 AM ET
WHERE: CNBC's "Squawk on the Street"
Following is the unofficial transcript of an excerpt of a CNBC EXCLUSIVE interview with Billionaire Carlos Slim Helú, on CNBC, airing on "Squawk on the Street"
All references must be sourced to CNBC.
MICHELLE CARUSO-CABRERA: (To viewers) CARLOS SLIM IS DEEPLY WORRIED ABOUT THE STATE OF THE WORLD ECONOMY. HE SAYS THE U.S. GOVERNMENT HAS BEEN SLOW TO ACT, BUT IS FINALLY HEADED IN THE RIGHT DIRECTION.
CARLOS SLIM HELÚ: WE- WE ARE LIVING TODAY, '29.
CARUSO-CABRERA: 1929, YOU THINK.
SLIM: 1930. WE ARE NOT LIVING '30, '31, '32. WE NEED TO AVOID '31, '30, '32, '33.
CARUSO-CABRERA: OH YEAH, I GET IT.
SLIM: '29 WAS THE FINANCIALS. IT'S CLEAR FROM MY PERSPECTIVE THAT THE U.S. NEEDS TO SUPPORT REGIONAL BANKS NOT ONLY THE BIG ONES, BECAUSE THEY NEED TO FINANCE WITH THESE REGIONAL BANKS THAT ARE GIVING SPECIAL SERVICE TO SMALL AND MIDDLE COMPANIES TO MAKE CREDIT FLOW IN THE RURAL AREAS AND SMALL CITIES. BUT ALSO YOU NEED TO TAKE CARE OF DEBTORS.
SLIM: IN MORTGAGE CASES YOU NEED TO MAKE A DESIGN, AND TAKE DECISIONS TO COLLECT FROM DEBTORS FOR THREE YEARS MAYBE, I DON'T KNOW HOW MANY YEARS, ONLY THE INTEREST, AND NO PRINCIPAL.
CARUSO-CABRERA (to viewers): WE'VE BEEN HEARING THAT MAYBE COMING OUT OF WASHINGTON IN THE LAST 24 HOURS. NOW ACCORDING TO SLIMWATCH, THIS IS A MEXICAN WEB SITE DEDICATED TO MONITORING CARLOS SLIM'S WEALTH, HE'S NOW WORTH ONLY $38 BILLION – ONLY –
THAT IS DOWN THOUGH FROM $58 BILLION AT THE END OF SEPTEMBER. HE'S LOST $20 BILLION IN ONE MONTH.
[Michelle Caruso-Cabrera's complete interview with Billionaire Carlos Slim Helú is available on cnbc.com]
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